Brokerages Set BrightSpring Health Services, Inc. (NASDAQ:BTSG) Price Target at $68.41

Shares of BrightSpring Health Services, Inc. (NASDAQ:BTSG) have been given an average recommendation of “Buy” by the twenty analysts that are presently covering the stock, Marketbeat.com reports. One research analyst has rated the stock with a hold recommendation, eighteen have given a buy recommendation and one has given a strong buy recommendation to the company. The average 1-year target price among brokers that have updated their coverage on the stock in the last year is $70.1176.

A number of brokerages recently weighed in on BTSG. UBS Group upped their price objective on BrightSpring Health Services from $63.00 to $85.00 and gave the stock a “buy” rating in a research note on Wednesday, July 8th. Zacks Research downgraded shares of BrightSpring Health Services from a “strong-buy” rating to a “hold” rating in a report on Monday, July 6th. Raymond James Financial started coverage on shares of BrightSpring Health Services in a research report on Thursday, July 9th. They set an “outperform” rating and a $80.00 price target for the company. Wells Fargo & Company raised their price target on shares of BrightSpring Health Services from $61.00 to $78.00 and gave the company an “overweight” rating in a report on Monday. Finally, Guggenheim initiated coverage on shares of BrightSpring Health Services in a research report on Monday. They issued a “buy” rating and a $81.00 price objective on the stock.

Insider Activity at BrightSpring Health Services

In other news, insider Jon B. Rousseau sold 130,000 shares of the firm’s stock in a transaction on Friday, June 5th. The stock was sold at an average price of $58.75, for a total value of $7,637,500.00. Following the completion of the sale, the insider owned 1,194,503 shares of the company’s stock, valued at $70,177,051.25. This trade represents a 9.82% decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this hyperlink. Also, insider Lisa A. Nalley sold 35,000 shares of the business’s stock in a transaction on Friday, June 5th. The stock was sold at an average price of $58.75, for a total value of $2,056,250.00. Following the transaction, the insider owned 131,948 shares in the company, valued at approximately $7,751,945. This trade represents a 20.96% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. 2.80% of the stock is owned by company insiders.

Institutional Investors Weigh In On BrightSpring Health Services

A number of hedge funds and other institutional investors have recently added to or reduced their stakes in the business. AQR Capital Management LLC purchased a new stake in shares of BrightSpring Health Services during the first quarter worth about $276,000. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. raised its position in shares of BrightSpring Health Services by 5.8% in the 1st quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 32,429 shares of the company’s stock valued at $587,000 after purchasing an additional 1,780 shares during the last quarter. Millennium Management LLC boosted its stake in BrightSpring Health Services by 0.3% in the 1st quarter. Millennium Management LLC now owns 577,885 shares of the company’s stock worth $10,454,000 after purchasing an additional 1,967 shares in the last quarter. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC boosted its stake in BrightSpring Health Services by 11.0% in the 1st quarter. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC now owns 147,280 shares of the company’s stock worth $2,664,000 after purchasing an additional 14,586 shares in the last quarter. Finally, Prudential Financial Inc. purchased a new stake in BrightSpring Health Services during the 2nd quarter worth approximately $351,000.

BrightSpring Health Services Stock Performance

Shares of NASDAQ:BTSG opened at $68.16 on Tuesday. The company has a market capitalization of $13.45 billion, a price-to-earnings ratio of 48.34, a price-to-earnings-growth ratio of 0.92 and a beta of 1.79. BrightSpring Health Services has a 52 week low of $19.01 and a 52 week high of $72.22. The company has a quick ratio of 1.38, a current ratio of 1.74 and a debt-to-equity ratio of 1.24. The firm has a 50 day moving average of $63.44 and a 200 day moving average of $49.49.

BrightSpring Health Services (NASDAQ:BTSG) last announced its earnings results on Friday, May 1st. The company reported $0.39 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.29 by $0.10. BrightSpring Health Services had a return on equity of 14.63% and a net margin of 2.27%.The business had revenue of $3.61 billion for the quarter, compared to analysts’ expectations of $3.39 billion. During the same quarter last year, the firm earned $0.14 EPS. The business’s revenue for the quarter was up 25.6% on a year-over-year basis. On average, sell-side analysts predict that BrightSpring Health Services will post 1.68 earnings per share for the current fiscal year.

About BrightSpring Health Services

BrightSpring Health Services (NASDAQ: BTSG) is a leading provider of home and community-based care and workforce solutions aimed at seniors, individuals with disabilities and those facing behavioral health challenges. The company’s operations encompass a broad spectrum of services, including personal care, skilled nursing, therapy, habilitation and supported living, as well as specialized behavioral health programs delivered through both clinical and non-clinical channels.

Through its network of subsidiary brands, BrightSpring offers integrated care in the patient’s home environment, fostering independence and improving quality of life.